Panama: Market for Ceramic Sinks, Baths, Water Closet Pans and Similar Sanitary Fixtures of Porcelain or China 2024

Market Size for Ceramic Sinks, Baths, Water Closet Pans and Similar Sanitary Fixtures of Porcelain or China in Panama

In 2022, the Panamanian market for ceramic sinks, baths, water closet pans and similar sanitary fixtures of porcelain or china increased by 27% to $X, rising for the second consecutive year after five years of decline. Over the period under review, consumption faced a abrupt curtailment. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Exports of Ceramic Sinks, Baths, Water Closet Pans and Similar Sanitary Fixtures of Porcelain or China

Exports from Panama

In 2022, exports of ceramic sinks, baths, water closet pans and similar sanitary fixtures of porcelain or china from Panama reduced slightly to X units, with a decrease of -1.5% on the year before. Over the period under review, exports saw a noticeable decline. The pace of growth appeared the most rapid in 2018 with an increase of 63%. Over the period under review, the exports of hit record highs at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, exports of ceramic sinks, baths, water closet pans and similar sanitary fixtures of porcelain or china shrank to $X in 2022. In general, exports saw a pronounced downturn. The pace of growth appeared the most rapid in 2018 when exports increased by 91% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Cuba (X units) was the main destination for exports of ceramic sinks, baths, water closet pans and similar sanitary fixtures of porcelain or china from Panama, with a 52% share of total exports. Moreover, exports of ceramic sinks, baths, water closet pans and similar sanitary fixtures of porcelain or china to Cuba exceeded the volume sent to the second major destination, Colombia (X units), fourfold. The third position in this ranking was held by the Dominican Republic (X units), with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cuba amounted to +8.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (+10.2% per year) and the Dominican Republic (+30.3% per year).

In value terms, Cuba ($X) remains the key foreign market for ceramic sinks, baths, water closet pans and similar sanitary fixtures of porcelain or china exports from Panama, comprising 13% of total exports. The second position in the ranking was taken by Colombia ($X), with a 2.8% share of total exports. It was followed by the Dominican Republic, with a 2.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Cuba totaled -7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-6.6% per year) and the Dominican Republic (+16.0% per year).

Export Prices by Country

In 2022, the average export price for ceramic sinks, baths, water closet pans and similar sanitary fixtures of porcelain or china amounted to $X per unit, shrinking by -6.8% against the previous year. Overall, the export price showed a pronounced decline. The pace of growth appeared the most rapid in 2018 when the average export price increased by 18% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Jamaica ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-5.2%), while the prices for the other major destinations experienced a decline.

Imports of Ceramic Sinks, Baths, Water Closet Pans and Similar Sanitary Fixtures of Porcelain or China

Imports into Panama

Imports of ceramic sinks, baths, water closet pans and similar sanitary fixtures of porcelain or china into Panama declined to X units in 2022, dropping by -5.2% against 2021 figures. Over the period under review, imports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2013 with an increase of 14%. As a result, imports reached the peak of X units. From 2014 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of ceramic sinks, baths, water closet pans and similar sanitary fixtures of porcelain or china skyrocketed to $X in 2022. In general, imports saw a deep setback. Over the period under review, imports of hit record highs at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Colombia (X units), China (X units) and Costa Rica (X units) were the main suppliers of imports of ceramic sinks, baths, water closet pans and similar sanitary fixtures of porcelain or china to Panama, with a combined 73% share of total imports. Free Zones, Ecuador, Mexico, Vietnam, the United States and Nicaragua lagged somewhat behind, together comprising a further 22%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Free Zones (with a CAGR of +27.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Colombia ($X) and Costa Rica ($X) were the largest ceramic sinks, baths, water closet pans and similar sanitary fixtures of porcelain or china suppliers to Panama, with a combined 70% share of total imports. Free Zones, the United States, Ecuador, Mexico, Vietnam and Nicaragua lagged somewhat behind, together accounting for a further 23%.

In terms of the main suppliers, Mexico, with a CAGR of +39.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for ceramic sinks, baths, water closet pans and similar sanitary fixtures of porcelain or china stood at $X per unit in 2022, growing by 49% against the previous year. In general, import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for ceramic sinks, baths, water closet pans and similar sanitary fixtures of porcelain or china increased by +82.8% against 2012 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Costa Rica ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+10.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform